New Year to Ring in Deal Flow?

November 24, 2008

With November fast approaching December and the end of 2008, ABS market participants have all but written off new issuance activity until at least January. While secondary market activity remains robust, with bid lists from every ABS sector coming in a flood, half the deals being shopped around in the secondary won't find bidders, according to one ABS trader. Mostly, market participants are trying to test different spread levels, he said.

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